Mattern Wealth Management LLC Buys 38,638 Shares of Walmart Inc. (NYSE:WMT)

Mattern Wealth Management LLC boosted its stake in shares of Walmart Inc. (NYSE:WMT) by 210.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,984 shares of the retailer’s stock after purchasing an additional 38,638 shares during the quarter. Mattern Wealth Management LLC’s holdings in Walmart were worth $3,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Capital Management Inc lifted its holdings in shares of Walmart by 199.3% during the 1st quarter. Northwest Capital Management Inc now owns 440 shares of the retailer’s stock valued at $26,000 after purchasing an additional 293 shares during the last quarter. Partnership Wealth Management LLC purchased a new position in shares of Walmart in the 4th quarter valued at approximately $30,000. Able Wealth Management LLC acquired a new stake in shares of Walmart during the fourth quarter worth $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Walmart in the 4th quarter valued at $32,000. Finally, Signature Resources Capital Management LLC purchased a new position in Walmart in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Walmart Trading Down 0.9 %

Shares of NYSE WMT traded down $0.60 during trading on Friday, reaching $69.42. The stock had a trading volume of 4,463,098 shares, compared to its average volume of 17,291,793. The business’s 50-day moving average price is $67.71 and its 200-day moving average price is $61.63. Walmart Inc. has a fifty-two week low of $49.85 and a fifty-two week high of $71.33. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.23 and a current ratio of 0.80. The company has a market cap of $558.38 billion, a P/E ratio of 29.69, a PEG ratio of 4.07 and a beta of 0.50.

Walmart (NYSE:WMT) last issued its quarterly earnings results on Thursday, May 16th. The retailer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. Walmart had a net margin of 2.88% and a return on equity of 21.57%. The company had revenue of $161.50 billion during the quarter, compared to analysts’ expectations of $159.57 billion. During the same quarter last year, the company posted $0.49 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that Walmart Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Oppenheimer increased their price objective on Walmart from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Morgan Stanley raised their target price on Walmart from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. DA Davidson lifted their price objective on shares of Walmart from $69.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 17th. BMO Capital Markets boosted their price objective on Walmart from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, HSBC upped their price target on shares of Walmart from $70.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.60.

Insider Activity

In other news, CEO C Douglas Mcmillon sold 29,124 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $65.23, for a total value of $1,899,758.52. Following the transaction, the chief executive officer now owns 3,989,526 shares in the company, valued at approximately $260,236,780.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Alice L. Walton sold 1,132,123 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $65.02, for a total value of $73,610,637.46. Following the transaction, the insider now owns 647,371,888 shares of the company’s stock, valued at $42,092,120,157.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO C Douglas Mcmillon sold 29,124 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $65.23, for a total transaction of $1,899,758.52. Following the completion of the transaction, the chief executive officer now directly owns 3,989,526 shares in the company, valued at $260,236,780.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,498,614 shares of company stock worth $951,441,747. 45.58% of the stock is currently owned by company insiders.

Walmart Company Profile

Walmart Inc engages in the operation of retail, wholesale, other units, and eCommerce worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications.